Blockchain data firm Arcam Intelligence plans to launch a crypto derivatives exchange next month, Bloomberg reports.
Backed by investors including OpenAI founder Sam Altman, the startup is moving operations from London and New York to Punta Cana, Dominican Republic. The company aims to serve retail investors, but will not open its platform to U.S. customers.
Founded in 2020, Arkham specializes in analyzing blockchain data to uncover information about the organizations and individuals behind crypto transactions.
The decision to launch a derivatives exchange comes as Arkam seeks to capture a slice of the growing cryptocurrency market, particularly in derivatives, which are financial contracts that derive value from an underlying asset like Bitcoin (BTC). It was done.
In July, Arkham Intelligence introduced the ability for users to connect their Coinbase wallets to the platform. This integration allows users to track their crypto holdings while Arcam continues to de-anonymize blockchain transactions.
What is Arkham Intelligence?
Arkham is a blockchain analytics platform that uses artificial intelligence to de-anonymize blockchain and on-chain data. Previously, it consisted of two main components: an analytics platform that provides analytics on a large number of exchanges, funds, and tokens, and Intel Exchange, which allows users to perform intelligent transactions.
According to Bloomberg, the new derivatives platform will operate under the Dominican Republic's free trade zone license, which will provide tax and other economic benefits.
Arcam's focus on derivatives trading is aimed at competing with major exchanges such as Binance, Bybit, and OKX.
